A Monaco Yacht Show Series Original: Darrell Hall

Q&A with Darrell Hall of Monaco-based YACHTZOO, and all you need to know about berths and charters

ML: Tell us about your background in the industry.

DH: I have worked in yachting for 32 years, having started as a deckhand in 1984 and working my way up to being a captain on board both sailing yachts and motor yachts. My time working on yachts has helped me to better understand how yacht owners like to use their vessels, and it gives me practical and technical knowledge of yacht operations.

ML: You co-founded YACHTZOO nearly a decade ago. What exactly is a luxury yacht brokerage company?DH: YACHTZOO was set up in 2007 by my three partners and me, all very experienced yacht and charter brokers. We share a philosophy of providing clients with the very best service possible, whether they are chartering or looking to build a completely custom yacht. YACHTZOO has offices in the world’s biggest and most important superyacht hubs, in Monaco and Fort Lauderdale. We now employ 22 staff – including 17 in Monaco – and provide a full range of services, including yacht sales and purchase, new construction, charter retail and management, yacht management, and purchase and sales of yacht berths.

ML: What advantages does having your head office in Monaco give YACHTZOO over global yacht companies with an office in Monaco?

Emanuele Lauro, Chairman and Chief Executive of Monaco-based Scorpio Bulkers, has told the company’s shareholder’s in the annual report that 2017 was characterised by an improved environment for the dry bulk industry.
“With the world economy firing on all cylinders in 2017, the demand for the commodities we carry and the distances they need to go continued to increase. A case in point – and an example we touched on last year – is coal. For now and for the foreseeable future, as China tries to urgently address corruption and – most especially – pollution while all the while maintaining economic growth, domestic coal production will decline and long-haul imports will increase.
“The consequences on our markets are broad and deep: it is not simply larger vessels shuttling coal from Australia to China. Second order effects include our Ultramaxes carrying coal from the United States to Europe. Tertiary effects include tightening supply/demand balances which support freight on cargoes like steel slabs from Russia, bauxite from Brazil, and logs from New Zealand. Meanwhile, robust demand is being met with historically low fleet supply growth.”
For the year ended December 31, 2017, the Company’s GAAP net loss was $59.7 million, or $0.83 loss per diluted share compared to a GAAP net loss of $124.8 million, or $2.22 loss per diluted share for the prior year.
On February 5, 2018, the Board of Directors declared a quarterly cash dividend of $0.02 per share on the Company’s common stock. Total vessel revenue in 2017 increased to 162.2 million from 78.4 million in 2016.